South Lake Tahoe and Salt Lake City, August 13, 2025
News Summary
Major moves are unfolding in Tahoe and Salt Lake City markets. An $11.75 million construction loan closed to begin a 14‑unit for‑sale townhome project in South Lake Tahoe, with construction already underway. Separately, a 20‑unit luxury ski‑in/ski‑out portfolio called Gondola Vista was listed for $55 million. In Salt Lake City, multiple townhome proposals are advancing — including a 20‑unit design‑review project near 400 South and 900 East and a 22‑unit development that won planning approval and may convert from rentals to condominiums. These items highlight demand for ownership product and targeted construction financing in resort and transit corridors.
Construction financing and new for‑sale townhomes move forward in Lake Tahoe and Salt Lake City
Key loan and sale activity landed this week as a developer secured construction capital to build 14 for‑sale townhomes in South Lake Tahoe and a 20‑unit luxury ski‑in/ski‑out portfolio at the base of a major resort was listed for sale. Meanwhile, multiple townhome proposals in Salt Lake City advanced through city review, keeping momentum in two active housing corridors.
Gantry funds 14 for‑sale townhomes in South Lake Tahoe
Construction is underway on a 14‑unit for‑sale project located at 3708 Lake Tahoe Boulevard and 3709 Osgood Avenue. The two parcels total about 0.72 acres and the development, currently marketed as South Lake Tahoe Townhomes, fronts Lake Tahoe Boulevard within walking distance of the lake, Stateline casinos and other local amenities.
The project closed on an $11.75 million construction loan from a lender sourced through a construction financing roster. The loan carries an 18‑month term and was arranged without any pre‑sale requirements, allowing development to begin immediately. The borrower is a private real estate investor. Representatives from the lender side included a senior director, a principal and an associate working from Los Angeles and San Francisco production offices who represented the borrower in the financing.
Underwriting required extra attention because the site is in a resort market with seasonal demand and a recent increase in the project’s land basis tied to zoning adjustments. That combination affected risk assessment but a lender was identified who could provide timely capital for a for‑sale product in the resort setting.
Gondola Vista — 20‑unit luxury portfolio listed for $55 million
A 20‑unit, high‑end portfolio situated at the base of a major ski area has been listed for $55,000,000. The collection sits on roughly 3.43 acres and offers a ski‑in/ski‑out experience. The 20 residences include 10 four‑bedroom, six five‑bedroom and four six‑bedroom townhomes. Private outdoor spaces, high‑end finishes and two‑car garages are standard. Unit sizes range from about 2,870 to 3,616 square feet.
The development lies inside a city tourist core plan and within an Opportunity Zone. The listing notes operational flexibility: the homes are marketed as exempt from many short‑term rental restrictions that affect other properties in the area, and each unit has its own assessor’s parcel number, allowing either a bulk sale or individual sales. The listing materials also highlight additional development potential on the site, including options for a hotel or additional condominium units, and suggest investors could add shared amenities such as a spa or fitness center. A project website is available for more detail.
Salt Lake City: multiple townhome proposals advance
City planning review activity continues in Salt Lake City with several townhome projects moving forward.
A new design package was submitted for a 20‑unit cluster of high‑end townhomes proposed along the busy 400 South corridor at approximately 910 E. 400 South. The site covers roughly 0.75 acres and occupies land currently home to a closed restaurant and its parking lot near the 900 East intersection. The proposal calls for three attached buildings with homes between 32 and 45 feet tall (up to four stories), historic‑style brick and stone facades, arched entrances, private balconies and rooftop spaces. Blueprints show each home with a larger footprint and a dedicated two‑car garage. The applicant is seeking zoning exceptions that include reduced setbacks and a waiver to allow some units to be tucked behind others without direct public street access. The parcels are owned by a charitable foundation with reported net assets exceeding $46 million in 2023. Designs were submitted by a local architect on behalf of the developer; the proposal is scheduled for planning commission review.
Separately, a 22‑unit townhome project at 377 E. 2100 South, named the 21st 400 E. Townhomes, received approval to move forward after a planning commission vote. The project sits on about 2.36 acres of vacant land zoned Community Business. Plans call for units with two bedrooms, 2.5 bathrooms and two‑car garages. The commission approved an increased rooftop deck height for 10 units facing 2100 South, allowed a sidewalk in a landscape buffer area and cleared the plan to proceed. The project is expected to begin as a rental development managed by a professional property manager, with a later conversion to condominium ownership managed by a homeowners association company.
Both Salt Lake City projects lie inside or adjacent to a long‑standing Transit Station Area zoning corridor that runs roughly from 200 East to 900 East along 400 South. That transit‑oriented zoning, which follows the TRAX light rail line, has driven hundreds of apartment units and mixed‑use projects in recent years and is now producing more townhome and for‑sale housing options in areas where ownership choices were previously limited.
Market and planning context
The developments reflect two common trends: lenders and developers pursuing for‑sale product in resort and urban transit corridors, and a market appetite for higher‑end units that offer owner options or short‑term rental flexibility. In resort markets, seasonality and local zoning changes can affect underwriting and pricing. In transit corridors, developers are seeking to add ownership options where multifamily rental stock has dominated.
Upcoming industry event and coverage note
An in‑person industry conference focused on apartments is scheduled to take place in Los Angeles on Sept. 11. Event organizers are promoting in‑person attendance and sessions focused on multifamily trends and market insights. A senior content director who oversees daily commercial real estate coverage and develops longer‑form pieces runs editorial operations and produces several daily stories on property markets; that role also manages coordination with the events team for conference programming.
FAQ
What financing closed for the South Lake Tahoe townhomes?
An $11.75 million construction loan with an 18‑month term was secured to build 14 for‑sale townhomes on two parcels totaling roughly 0.72 acres at 3708 Lake Tahoe Blvd. and 3709 Osgood Ave. The borrower is a private real estate investor and the loan came from a construction financing lender identified through a lending roster.
Where is Gondola Vista and what is being listed?
Gondola Vista is a 20‑unit luxury collection located at the base of a major ski resort on about 3.43 acres. The portfolio is offered as a bulk sale at $55,000,000, with options to purchase individual units. Units include multiple bedroom counts, two‑car garages, private outdoor spaces and lake and mountain views.
What Salt Lake City projects are in review?
Two notable items: a proposed 20‑unit for‑sale project near 400 South and 900 East on about 0.75 acres, and a 22‑unit project at 377 E. 2100 South that received planning commission approval to proceed. Both projects include two‑car garages and rooftop amenities on select units and sit inside or near a transit‑oriented zoning corridor.
How do zoning rules affect these projects?
Zoning and transit‑oriented corridor rules influence density, allowed uses and design standards. Developers are seeking exceptions in some cases, such as reduced setbacks and waivers for units without direct street frontage. Zoning changes have also affected land cost calculations in the resort development.
Where can I find more information about timelines and approvals?
Design and financing milestones are tracked by city planning agencies and by project listings. Planning commission agendas and project filings will indicate upcoming hearings and next steps for local approvals.
Project snapshot table
| Project | Location | Units | Acreage | Status | Financing / Price |
|---|---|---|---|---|---|
| South Lake Tahoe Townhomes | 3708 Lake Tahoe Blvd. & 3709 Osgood Ave. | 14 for‑sale townhomes | 0.72 acres | Construction underway | $11.75M construction loan (18 months) |
| Gondola Vista | Base of major ski resort, South Lake Tahoe | 20 luxury townhomes | 3.43 acres | Offered for sale | Listed at $55,000,000 (bulk or individual sale options) |
| 400 South townhomes | Approx. 910 E. 400 South, Salt Lake City | 20 for‑sale units (three buildings) | ~0.75 acres | Designs under city review | Developer proposals seeking zoning exceptions |
| 21st 400 E. Townhomes | 377 E. 2100 South, Salt Lake City | 22 townhomes | 2.36 acres | Planning commission approved; can proceed | Planned initial rental with later condo conversion |
Note: This article summarizes recent construction financing, listings and planning actions affecting for‑sale and high‑end townhome development in the Lake Tahoe and Salt Lake City markets. Check local planning commission agendas and project filings for the latest public documents and hearing dates.
Deeper Dive: News & Info About This Topic
Additional Resources
- ConnectCRE: South Lake Tahoe townhomes line up financing
- Wikipedia: South Lake Tahoe, California
- Tahoe Daily Tribune: Townhome property at base of Heavenly lists for $55M
- Wikipedia: Heavenly Mountain Resort
- Building Salt Lake: SLC planning commission approves 400 South townhomes
- Encyclopedia Britannica: Salt Lake City
- Salt Lake Tribune: New for‑sale town homes could go
- Google Search: Salt Lake City for‑sale townhomes 2025
- Building Salt Lake: New townhomes on 2100 South approved
- Wikipedia: Transit-oriented development
